BUEB Students' page

Entrepreneurship Management and Digital Business specialisations  

Organisational and Human Resource Management  

1. Present the primary and secondary characteristics of organizations. Evaluate organizational forms through their characteristics. Present the advantages and disadvantages of applying different organizational forms relative to each other.  
2. Present the functions and sub-functions of management. Classify and interpret managerial roles. Present the relationship between managerial skills and management levels. Explain the differences between a manager and a leader.  

Operations Management  

1. Present the concept of corporate value-creating processes and describe their content. Explain the role of the customer in value creation and define customer value and its categories. Present the elements of the value chain model, its analytical methods, and how the results can support strategic decision-making. Characterize the supply chain approach and explain its relationship to the value chain model.  
2. Present in detail the modern methods of production organization. Describe the organization of workplaces and work environments, as well as methods that support production efficiency. Present the tools for developing the production process, and describe production systems, their approaches, and perspectives.  
3. Present the procurement organization, as well as the concepts and characteristics of direct and indirect procurement. Explain decision types within procurement policy and the main types of supplier relationship management. Present the advantages, disadvantages, and conditions of applying supplier evaluation procedures. Present the main structural decisions related to distribution networks and explain direct and indirect sales channels.  

Entrepreneurship  

1. Present the role and significance of micro, small, and medium-sized enterprises (SMEs) in the economy (in Hungary and the European Union). Define the concepts of startup, spin-off, innovation-driven enterprise, and social enterprise. Present in detail the characteristics of social enterprises and provide domestic best practices. Present the differences and similarities between classical and startup business life-cycle models. Describe the funding opportunities for start-ups throughout the business life cycle. Provide examples of good practices in the Hungarian entrepreneurial ecosystem that support and assist new enterprises.  
2. Explain the difference between a business model and a strategy for small enterprises. Present the types of business models studied and the methodologies of business modelling. Describe in detail the structure of the Business Model Canvas (BMC). Present the following business model archetypes: multi-sided business model, long-tail model, multi-participant (platform) models, freemium business model, open business models. Present the criteria, analytical methods, and testing techniques used to assess the viability of a business idea.  
3. Define family businesses and describe the difficulties in defining them. Considering this, present the role and importance of family businesses in the economy. Identify the main differences between family and non-family businesses. Define the concepts of succession, professionalization, and internationalization in the operation of family businesses. Interpret the specific goals and resources of family businesses related to their operations. With Hungarian examples, present the issues of succession, generational transition, and succession planning in family businesses.  

Service Management and Marketing  

1. Present the development of services, define the concept of services and their characteristics. Explain the role of the service sector in the national economy. Provide criteria and use them to compare services and physical products. Classify services. Interpret the concept of the extended service offering and the moment of truth. Define service management and present the different management principles. Discuss service quality, particularly the GAP model.  
2. Present the concepts and dimensions of McDonaldization and Disneyization. Explain the concept of internal marketing and define internal customer and organizational culture. Interpret the vicious circles in services – the cycle of failure and the cycle of mediocrity. Present the specific characteristics and marketing aspects of services (HIPI principle). Describe in detail the service marketing mix (7Ps) and demonstrate the practical usefulness of a CRM system through an example from the daily operation of a real or fictitious company.  

1. Market and Market Analysis  

Define the concept of the market and explain the importance of market analysis. Describe the essence and application areas of analytical procedures and models (STEEPLE analysis, SWOT analysis, Porter’s Five Forces, Ansoff Matrix). Explain how market analysis forms the foundation for corporate strategic planning. Present the Business Model Canvas.  

2. Procurement, Inventory, and Sales Management  

Present the main elements of procurement, inventory, and sales management, and the interconnections among them. Focus particularly on the tasks of procurement, supplier selection, inventory management and replenishment, as well as the planning, organization, and controlling aspects of sales. Explain the concept of the “bullwhip effect.”  

3. Supply Chain Management and Coopetition  

Define supply chain management and its key areas. Explain the concept of coopetition and the challenges of competition and cooperation. Emphasize the importance of strategic partnerships, make-or-buy decisions, and the issues of outsourcing and insourcing in terms of corporate management (profitability and liquidity), logistics performance, and corporate image.  

4. Efficiency and Profitability of Trade  

Present the key issues related to the efficiency and profitability of commercial operations:  
Turnover-based and capital-based profitability questions, capital requirements  
Relationship between company-, product-, and product-group-level margin indicators  
Relationships among margin amount, margin rate, commercial costs, and profitability indicators  
Contribution margin calculation, value, price, and volume index calculations and their interrelations  

5. Consumer and Buyer Behavior  

Present the theoretical foundations of consumer and buyer behavior and their conceptual connections. Describe the system of external and internal factors influencing consumer decisions. Review buyer decision-making models (e.g., customer journey models). Explain why understanding consumer behavior is important from a marketing perspective and how it connects to marketing strategy development.  

6. Market Research  

Explain the purpose and main methods of market research. Discuss primary and secondary research methods and quantitative and qualitative techniques. Address the relationship between data, information, and knowledge, as well as the effects of “big data” and AI on market research.  

 7. Product and Service Marketing  

Define the concepts of product and service in marketing and compare the similarities and differences between the trade concept of goods and the marketing concept of products. Present the process of product development and the relationship between product and customer value. Analyze the connections between products and services and define the term “service product.” Explain the essence of product portfolio analysis using the BCG Matrix and the product life cycle model, including their marketing implications.  

8. Pricing in Marketing and trade  

Define the concept of price in marketing. Present the role of pricing and its connection to product, distribution, and communication policies. Explain pricing principles (cost-based, competitor-based, customer-based, goal-oriented) and the strategic and tactical aspects of pricing. Present the process of pricing in commerce and the role of margins. Discuss new challenges in pricing such as dynamic pricing, mass personalization, and information asymmetry between buyers and sellers.  

9. Sales Models and Distribution Channels  

Present various sales models in commerce (traditional, self-selection, self-service, sample-based). Describe the characteristics of different sales channels: classical, artificial, demi-wholesale, and direct routes. Discuss modern distribution models: single-, multi-, cross-, and omnichannel sales. Highlight the importance of store location selection today and the relationship between in-store and online sales. Address mobile-based, AR- and VR-based sales solutions, and issues related to live and social media-based sales.  

10. Sales Promotion and Marketing Communication  

Present the fundamental questions of sales promotion and marketing communication. Describe the marketing communication mix and its elements (Advertising, PR, Sales Promotion, Personal Selling). Explain the principle of Integrated Marketing Communication and the ATL, BTL, and TTL models. Discuss advertising communication effect models (AIDA, DAGMAR, Rogers), the PESO model, and issues of communication regulation and ethics. Present current challenges related to social media communication, consumer-generated media (CGM), and influencers.  

1. Communication Theory 

Explain the major theoretical approaches to interpersonal communication (symbolic interactionism, expectation violations theory, interpersonal deception). Illustrate these with practical examples. (Griffin, Em, Andrew Ledbetter & Glenn Sparks: A first look at communication theory, pp. 56–70. McGraw Hill, 2023)  

What are the main characteristics of group communication and why are they relevant to problem-solving and decision-making processes? Explain social influence and conformity. (Dainton, Marianne & Elaine D. Zelley: Applying Communication Theory for Professional Life: A Practical Introduction, pp. 141–156. Sage, 2023).  

Describe the characteristics of verbal and non-verbal communication. List some concrete examples in the field of business communication. (DeVito, Joseph A.: The Interpersonal Communication Book, pp. 129–158. Pearson Education, 2016, https://slims.bakrie.ac.id/repository/f7d4f28f39e8b9d8cb794f6c4eb9cb0f.pdf)  

2. Media theory 

Describe the history of media effects research and reception studies from Bullet Theory to the Encoding/Decoding Model. (Street, John: Mass Media, Politics and Democracy, pp. 80–99. Palgrave, 2001)  

Describe the communication-as-transmission and the communication-as-ritual models of the mass media. Assess moral panics and media scandals as media rituals. (Carey, James W.: Communication as Culture, pp. 13–68. Routledge, 1992)  

What makes an event newsworthy? What are the main criteria for newsworthiness? (McNair, Brian: The Sociology of Journalism, pp. 61–81. Arnold, 1998)  

3. Digital Communication  

How do technological determinists and social constructivists describe the relationship between communication technology and society? How do net optimists and net pessimists see the societal effects of computerisation and digitalisation? (Kovarik, Bill: Revolutions in Communication. Media History from Gutenberg to the Digital Age, pp. 1–11. & 267–270. Bloomsbury Publishing Inc., 2011)  

Describe the major milestones of the history of the internet. What is the difference between the web 1.0 and the web 2.0? (Kovarik, Bill: Revolutions in Communication. Media History from Gutenberg to the Digital Age, pp. 271–273. Bloomsbury Publishing Inc., 2011)  

How would you describe the main features of the informational, or network, society? What were the three main reasons behind the rise of the network society? (Castells, Manuel: The Rise of the Network Society, pp. 93–152. Wiley-Blackwell, 2010, second ed., online ed.)  

4. Corporate Communication  

Describe the concept of crisis communication (importance, function, purpose, actors, messages, etc.). Present a crisis plan: what is it for, what are its key elements, how and when can it be used? (Fearn-Banks, Kathleen: Crisis Communications: A Casebook Approach, pp. 15–21 & 56–75. Routledge, 2017)  

Describe and analyse the main elements of a PR campaign. What is the role of research and evaluation in campaign planning? What are the main PR tools and methods? Analyse some recent PR campaigns in your home country. (Tench, Ralph & Stephen Waddington: Exploring Public Relations and Management Communication, pp. 175–232. Pearson, 2021).  

What is corporate identity and what are its main types? What are reputation management and corporate branding? Why does reputation matter? (Tench, Ralph & Stephen Waddington: Exploring Public Relations and Management Communication, pp. 244–258. Pearson, 2021)  

5. Intercultural Communication  

What is culture, and how do you define the term? (Neuliep, James W.: Intercultural Communication: A Contextual Approach, pp. 8–22. Sage, 2020)  

List some cultural differences in non-verbal communication. What is a culture shock and what are its stages? (Neuliep, James W.: Intercultural Communication: A Contextual Approach, pp. 250–286 & 413–420. Sage, 2020)  

How does a multi-cultural environment influence employees? What are the most important aspects for the management to consider in a multi-cultural organisation? (Schmidt, Walace V., Roger N. Conaway, Susan S. Easton, Willaim J. Wardrope: Communicating Globally. Intercultural Communication and International Business, pp. 41–61. Sage, 2000)  

6. Communication Ethics and Law 

What is ethics? What are the main objectives and mechanisms of journalistic self-regulation? (Frost, Chris: Media Ethics and Self-Regulation, pp. 1–58. Longman, 2000)  

What are the recurring elements of most codes of journalism ethics? (Frost, Chris: Media Ethics and Self-Regulation, pp. 117–167. Longman, 2000)  

What are the regulatory dilemmas of the digital revolution and the limits of communication rights? (Oster, Jan: Media Freedom as a Fundamental Right, pp. 24–45, 102–105 & 145-189. Cambridge University Press, 2015)  

Financial Services specialisation  

1. Different types of banking: describe the operation of the financial intermediary system (funds flow from net savers to net borrowers). Explain the role of Financial Intermediaries and their money creation in the fractional reserving system. Institutional and operational background: enlist the licenses of financial services in universal banking. Differentiate between retail & wholesale banking, and investment banking. Describe the different business models in European banking. [BANK-RELATED FINANCIAL SERVICES]  
2. Explain the role of central banks and describe the types of policies they carry. The regulatory framework for banking risks: summarise the main elements of the Basel Capital Accords (including the Three-Pillar Architecture) and the internal capital adequacy assessment procedure, and the integrated process of risk assessment as well. Differentiate between credit risk, market risk and operational risk. [BANK-RELATED FINANCIAL SERVICES]  
3. What are the main risks associated with bonds? Are fixed-rate government securities truly risk-free? Explain the interest rate risk of bonds! How can the duration and modified duration of a bond be interpreted? What are convexity and basis point value measures? Which are the main bond portfolio management strategies? What is the difference between active and passive bond portfolio management? Describe immunization as a bond portfolio management strategy. [INVESTMENT ANALYSIS]  
4. What are the most popular types of mutual funds? What are ETFs? How can we choose between investment funds based on costs? Explain the following indicators used to compare investment funds: Sharpe ratio, alpha, beta, information ratio, Treynor ratio. What does ESG stand for and what are the main sustainable investment strategies used in asset management? [INVESTMENT ANALYSIS]  
5. Define financial derivatives. Describe forward agreements and interest rate swaps! Among derivatives, list and explain the different characteristic of options. Explain the difference between a call and a put option, with regard to their potential losses and gains. Which factors may affect the option premiums? Explain briefly how option contracts can be added together to construct trading strategies (e.g. straddle, strangle, bull or bear spread). [INVESTMENT ANALYSIS]  
6. Financial innovations, securitization and shadow banking: define their terms. How does the process of securitization work? Who are the main actors in a securitization process and what is their role? What are the main similarities and differences between the traditional and the shadow banking systems? Why were the securitization and the shadow banking important in the Global Financial Crisis of 2007–2009? [NON-BANK RELATED FINANCIAL SERVICES]  
7. About the financial crises: Why do financial crises occur and why are they so damaging to the economy. Describe the dynamics of financial crises: what characterise the different stages of a financial crisis? What is the role of assets price bubbles in the financial crises? Describe in brief a few cases of financial collapses and failures and identify the different stages during the description. [NON-BANK RELATED FINANCIAL SERVICES] 
8. What are the main benefits of Mutual Funds? What are the main types of mutual funds? What are the main differences between the hedge funds and the traditional mutual funds? Distinguish between adverse selection and moral hazard as they relate to the insurance industry. How do insurance companies protect themselves against losses due to adverse selection and moral hazard? [NON-BANK RELATED FINANCIAL SERVICES]  
9. Describe the wealth manager’s role in preserving and enhancing the private wealth. Differentiate between an investor’s portfolio and a managed portfolio. Which are most valuable wealth management services for HNWIs, among the recent challenges of FinTech and WealthTech? What kind of different investment strategies can be built up, alongside with the private individual’s stage of life? What does the concept of socially responsible and impact investing mean? [WEALTH AND TAX PLANNING]  
10. Explain the relevance and means of tax planning in case of private agents. Make a distinction between tax evasion and tax avoidance. Discuss how aggressive tax avoidance is used in relocating the taxpayers’ tax base to other jurisdictions, and its advantages to the private agent as well. Give example how to shield someone’s identity with an offshore account. [WEALTH AND TAX PLANNING]  

1. The world economy and international trade: the main stages of the world economy after the Second World War, the key processes of globalisation, trends in world trade, and the characteristics of individual regions of the world economy.

The stages of development of the world economy from the post–Second World War period onward. Trends in world trade. Processes of trade liberalisation. Processes of protectionism. Regional characteristics (EU, North America, East Asia, emerging economies) and their integration mechanisms. The theory of comparative advantage. Modern trade models (Heckscher–Ohlin, new trade theory). The role of global value chains.

Related courses: International Economics, World Economy, Economics of the European Union

2. International transactions and their processes, the main elements of international commercial contracts, and the essential provisions of the INCOTERMS rules.

The complete process of an international transaction from request for quotation to performance. Main content elements of commercial contracts: price, quantity, delivery, payment terms, liability. The essential provisions of the INCOTERMS rules. INCOTERMS groups. Their impact on cost and risk sharing. Operation of documentary transactions (documentary credit, documentary collection). Risks of payment methods. Contractual securities. Legal aspects of international transactions. Logistical aspects of international transactions. Financial aspects of international transactions.

Related courses: International Transactions, International Law

3. International logistics and supply chain management: the concept of logistics and the supply chain, the main logistics subsystems (procurement, production, distribution, reverse logistics).

The concept of logistics. The concept of the supply chain. The main subsystems: procurement, production logistics, distribution, reverse logistics. The essential elements of each subsystem. The definition of each subsystem. Inventory management models. The role of freight forwarders. The role of carriers. Service portfolios. Tools of supply chain integration. Tools of supply chain digitalisation (IoT, RFID, AI, SCM systems). Performance indicators. Logistics optimisation tasks.

Related courses: Logistics, Supply Chain Management

4. International finance: the operation of the foreign exchange market, its participants, and internal and external methods of hedging exchange rate and interest rate risk on the foreign exchange market.

The structure of the foreign exchange market. The main participants of the foreign exchange market. The logic of exchange rate quotations. Types of exchange rates. The logic of exchange rate types. Market application of exchange rate types. Factors influencing exchange rates. The interest parity model. The uncovered interest parity model. Foreign exchange market instruments: spot, forward, swap, options. Internal corporate risk management tools: natural hedge, netting, management techniques. External corporate risk management tools: forwards, futures, options, swaps. Types of exchange rate exposure: transaction exposure, translation exposure, economic exposure. Types of interest rate exposure. The risk management process. Reasons for applying risk management. Exchange rate analysis methods. Core elements of technical analysis. Core elements of fundamental analysis.

Related courses: International Finance, International Economics

5. Hungary in the world economy and international trade: Hungary’s external economic relations and policy in the transforming global economic order, by sectors and partner countries, with special emphasis on the EU–Hungary relationship.

The development of Hungary’s external economic relations in the past and present. The structure of Hungary’s external economic relations. Strategic directions of Hungary’s external economic relations. Structural characteristics of the domestic economy: sectoral distribution, manufacturing industry, services. The role of global value chains affecting Hungary. Economic policy responses to geopolitical changes. Economic policy responses to technological changes. Examples supporting the acquired knowledge. Knowledge of precise data related to partner countries. Fundamental structural characteristics of the Hungarian economy. The external economic embeddedness of the Hungarian economy. Hungary’s most important foreign trade partners: countries and regions. Structural characteristics of exports. Structural characteristics of imports. The increasing importance of service exports. The role of service exports in foreign trade performance. Hungary’s FDI-based economic model. Integration into global value chains. The impact of the regime change on external economic orientation and structure. The impact of EU accession on external economic orientation and structure.

Related courses: Hungary in the World Economy

6. Hungarian capital abroad, foreign capital in Hungary (FDI): the main characteristics of foreign direct investment in Hungary (investment trends, main investor countries, sectoral and regional distribution), and the foreign investments of Hungarian companies.

The concept of foreign direct investment (FDI). Types of FDI: greenfield, brownfield, reinvestment. Motivations for FDI: market-seeking, resource-seeking, efficiency-seeking, strategic asset-seeking. Domestic characteristics of foreign capital. Investor countries in Hungary. The volume of investments in Hungary. Sectoral distribution of investments in Hungary. Regional distribution of investments in Hungary. Patterns of international expansion of Hungarian companies. The most important partner countries in the foreign investments of Hungarian companies. The volume of foreign investments by Hungarian companies. Sectoral distribution of Hungarian outward FDI. Regional distribution of Hungarian outward FDI. Economic effects of FDI: technology transfer, employment, export capacity. Analysis of the economic impacts of FDI. Analysis of FDI-related risks.

Related courses: International Economics, World Economy

7. Quantitative methods and business intelligence in international business: the role of quantitative analytical methods in analysing business activities (e.g. index calculation, analysis of price and volume changes).

The role of quantitative methods in corporate decision-making. Index calculation. Analysis of volume effects. Analysis of price effects. Time series analysis. Correlation. Regression. Basic statistics. Operation of business intelligence systems. Corporate application of artificial intelligence. Types of AI: machine learning (ML), natural language processing (NLP), decision support systems (DSS). Steps of data preparation. Steps of data cleaning.

Related courses: Quantitative Methods and Business Intelligence

8. The organisation and policies of the European Union: the EU institutional system and decision-making mechanisms, the common commercial policy.

The main institutions of the European Union: the European Parliament, the European Council, the European Commission, the Court of Justice of the European Union, the European Central Bank. EU decision-making processes. The ordinary legislative procedure. Qualified majority voting. The consultation procedure. Instruments of the common commercial policy. Principles of applying the Common Customs Tariff. Tariffs as instruments of trade policy regulation. Trade defence instruments: anti-dumping duties, countervailing duties. Examples of free trade agreements. The international role of the European Union.

Related courses: Organisation and Policies of the European Union

Specialisation questions

Business diplomacy

Define the concept, functions, and instruments of economic diplomacy, and present its current organisational and institutional framework together with the roles of its key actors.

Describe the concept, functions, and instruments of economic diplomacy. Present the current organisational and institutional framework of economic diplomacy and the responsibilities of the key actors. What is meant by economic diplomacy, and how does it differ from classical diplomacy? What key functions does economic diplomacy fulfil in international economic relations? What are the most important instruments of economic diplomacy (e.g., investment promotion, export development, negotiations)? How do foreign missions (embassies, consulates) support the international activities of Hungarian companies? What are the responsibilities of economic attachés in partner countries? What role does the Ministry of Foreign Affairs and Trade play in coordinating economic diplomacy? How do the mandates of HIPA and HEPA differ, and how do they fit into the institutional system of economic diplomacy? Who are the main actors of economic diplomacy at state and non-state level, and what roles do they play? How does economic diplomacy contribute to the growth of Hungarian exports and the inflow of investments?

Describe the main forums of foreign-policy decision-making and explain the role of diplomacy in these processes.

What is meant by foreign-policy decision-making, and what are its main objectives? What are the main forums of foreign-policy decision-making at national level (government, ministries, parliament)? How do parliamentary committees contribute to foreign-policy decision-making? What role do international organisations (EU, UN, NATO, OECD) play in shaping foreign-policy decisions? What is the role of diplomacy in information gathering and situation assessment? How do diplomats support decision-makers in preparing negotiations? What is the role of non-state actors (companies, civil organisations, think tanks) in foreign- policy decision-making? How does diplomacy contribute to the implementation and monitoring of foreign-policy decisions? Why is diplomacy indispensable in managing international conflicts, crises, or economic challenges?

International Business Development specialisation

Identify the risks associated with international transactions and the available payment methods. Present the types and roles of insurance used in international trade.

Present the risks associated with international transactions and the available payment methods. Describe the types and roles of insurance used in international trade. International transactions involve multiple types of risk; students must know these risks and explain their essence (exchange-rate risk, country risk, counterparty risk, transport and logistics risk, legal and political risk). The choice of payment method is closely linked to the level of risk. Present the following payment methods from both the seller’s and the buyer’s perspectives, including typical use cases:

• bank transfer

• advance payment

• documentary collection

• documentary credit (letter of credit, L/C)

When assessing trade insurance, address the following types and explain the rationale for their use:

• cargo insurance

• credit insurance

• political risk insurance

Provide an overview of the regulatory framework governing international commercial transactions and of the EU’s trade-policy instruments.

The regulatory environment of international commercial transactions consists of multiple layers: national law, international treaties, multilateral rules (e.g., WTO), and regional trade agreements. Describe the rules and objectives of the WTO in ensuring transparent trade among member states. What are the most important rules of the Vienna Convention (CISG) regarding sales contracts? What does the institution of the customs union mean within the EU? Which measures are included in the EU’s trade policy toolkit? Include the application of trade defence measures. Among trade defence instruments, present some examples.

Digital supply chain management and Freight forwarding and logistic

Present the role of carriers and freight forwarders in logistics processes, and describe the services and activities performed by freight-forwarding companies.

Present the role of carriers and freight forwarders in logistics processes. Describe the services and activities of freight forwarders. Students must present the role of carriers and freight forwarders in international logistics processes and describe the main types of service packages, including:

• transport organisation

• customs administration

• multimodal operations

• warehousing

• arranging insurance The topic presupposes knowledge of international conventions (CMR, CIM, and their connection to INCOTERMS) and of the digital tools used in supply chains (TMS, WMS, blockchain, IoT). The role of cost structures, performance indicators, and process optimisation is also important.

Define the subject, parties, and responsibilities arising from carriage contracts. Explain the limits of carrier liability and assess how such liability limitations affect logistics processes.

Students must know and be able to define the following concepts:

• the subject matter of carriage contracts

• the parties involved liability rules and responsibilities

List the limits of carrier liability.

Explain the implications of liability limitations for logistics processes.

The topic presupposes knowledge of international conventions (CMR, CIM, and their connection to INCOTERMS) and of the digital tools used in supply chains (TMS, WMS, blockchain, IoT).

The role of cost structures, performance indicators, and process optimisation is also important

East Asian Business Studies

The emerging Southeast Asian (ASEAN) region. Present the main economic integration mechanisms within ASEAN region. Identify the main opportunities and risks for investors in the ASEAN economies!

What are the main economic characteristics of Southeast Asia that justify describing the ASEAN region as an emerging economic area? What is ASEAN, and which countries are its member states? How has ASEAN evolved as a regional integration framework?

What are the main objectives and principles of ASEAN economic cooperation? How does the ASEAN Free Trade Area (AFTA) contribute to trade liberalisation within the region? What is the role of the ASEAN Economic Community (AEC) in promoting the free flow of goods, services, investment, capital, and skilled labour? What are the main investment opportunities offered by ASEAN economies (e.g. market size, labour costs, manufacturing capacity, supply chain integration)? What are the key risks and challenges investors face in ASEAN countries (political risk, regulatory diversity, infrastructure gaps, institutional differences)?

Present the main economic and political factors shaping China–U.S. relations in the 21st century!

Why are China–U.S. relations considered one of the most influential bilateral relationships in the contemporary global economy? What are the main economic links between China and the United States in terms of trade, investment, and supply chain integration? How have trade imbalances and tariff measures affected economic relations between the two countries? What political and strategic factors shape China–U.S. relations in the 21st century? How do technology competition and export controls (e.g. semiconductors, AI, telecommunications) influence bilateral relations?What does the concept of decoupling or de-risking mean, and how does it affect global value chains? How do China–U.S. tensions influence third countries and regions, particularly ASEAN and the European Union?

1. The Tourism System and Its Significance

The significance of tourism in international and domestic contexts. The concept of tourism. The history of tourism. The tourism system. Factors and characteristics of tourism demand. Demand segments. Demand trends in tourism. Elements of tourism supply: attractions, transport, accommodation services, hospitality, other services, security, tourism image. Supply-side trends in tourism. The role of the visitor experience in tourism. Experience trends. Stakeholders and impacts of tourism. Economic impacts of tourism: revenues, job creation, investments. Socio-cultural impacts of tourism. Environmental impacts of tourism. Tourism management. Overtourism and the visitor economy.

Related courses: Introduction to Sustainable Tourism

2. Tourism Attractions and Regions of Hungary

The main types of natural and cultural attractions in Hungary. Key qualification and certification systems of attractions (UNESCO World Heritage sites, Hungarikums, protected natural and built heritage areas), with Hungarian examples and their unique values and characteristics. The legal background of Hungarian tourism regions, the current tourism regions and their characteristics from both supply and demand perspectives. Tourism products of outstanding importance in Hungary, their characteristics and role in domestic tourism demand and supply.

Related courses: Tourism Geography of Hungary

3. Organisational and Institutional System of Tourism

The current organisational and institutional system of tourism. The roles of the public and private sectors, tourism policy, planning, development, regulation and marketing.

Related courses: Introduction to Sustainable Tourism

4. Hotel Management and Operations: hotel organisational structures, operational models, hotel types and specialisations, accommodation classification systems.

Classification of accommodation establishments – hotels, guesthouses, campsites, holiday homes, private and other types of accommodation and their characteristics. Hotel operating models – independent operation, franchise, management contract, lease arrangements and their impact on operations. Hotel typology – classification by type, size, location, target segment, services, etc. Accommodation quality – international examples of accommodation classification; the Hungarian system, its stakeholders and process. Hotel classification criteria in the HotelStars system, signalling of quality and its impact on demand. Interpretation and characteristics of hotel brands and brand quality. Hotel operations – different organisational structures, hotel departments and positions. The role of Front Office and Back Office in operations.

Related courses: Hotel Management 1, Hotel Management 2

5. Hotel Market and Financial Management: market trends, demand segmentation, competitive analysis, revenue management, profit centres, cost planning, P&L and performance indicators.

Hotel market trends I – demand-side trends, new travel habits and expectations, Generation Z as guests.

Hotel market trends II – supply-side trends, new services, design, technology and experience.

Hotel demand – leisure, business, individual and group segments; possible business mixes in different hotels.

Hotel supply – competitor selection, competitor analysis methods and data sources; market analysis indicators: Fair Share, Market Share, ARI, MPI, RGI; benefits of market analysis.

Revenue management – concept and tools (pricing, seasonality, differentiation, booking restrictions, event impact, pick-up, booking window, etc.); RM indicators (OCC%, ADR, RevPAR,

TRevPAR) and their interpretation. Revenue planning and forecasting methods.

Related courses: Hotel Management 2, Tourism Marketing

Hotel profit centres – Rooms Division, Food & Beverage, Spa and other services: revenues, costs and operations.

Cost planning – cost of goods sold, wages and contributions, unit-level operating costs; general costs, fixed (non-operating) costs, their scale and planning options.

Challenges in workforce management.

Hotel financial performance categories – significance, structure and content of the P&L statement (according to USALI). Interpretation of DOP, GOP, EBITDA and NOP.

The role and opportunities of management in profit optimisation.

Related courses: Hotel Management 3, Introduction to Accounting, Statistics for Business

6. Tourism Marketing

The role of marketing in tourism and hospitality. Market segmentation in tourism and hospitality. Consumer behaviour trends in tourism. Target market selection and positioning. The marketing mix (4P–7P). Characteristics of tourism products and services. Relationship between tourism products/services and experience. Pricing characteristics in tourism. Offline and online distribution channels and consumer attitudes towards them. Challenges faced by service providers. Marketing communication tools (ATL–BTL). The role of digitalisation and social media in marketing communication.

Related courses: Tourism Marketing, Hotel Management 2 and 3 (pricing, sales)

7. Hospitality and Gastronomy

Historical development of Hungarian gastronomy, its key turning points and defining periods. Influential individuals and institutions shaping Hungarian gastronomy. Current trends in gastronomy and hospitality. Key attributes of quality hospitality services. Dominant food and beverage offerings in Hungarian hospitality. Other factors influencing the guest experience. Restaurant rating systems and their impact on popularity.

Related courses: Introduction to Gastronomy, Hotel F&B Management or Food and Drink in Hospitality

8. Small and Medium-sized Enterprises in Tourism and Hospitality

Definition of micro, small and medium-sized enterprises (SMEs). Characteristics distinguishing SMEs from large enterprises. The role of SMEs in tourism and hospitality. Definition of economic activities within the tourism and hospitality sector. Decisions related to business start-up. Business models, business plans and the business model canvas. Investment and development characteristics in tourism and hospitality enterprises, investment expectations and key managerial accounting tools.

Related courses: Basics of Business Economics, SMEs in Tourism and Hospitality, Introduction to Sustainable Tourism

9. Trends and Sustainability in Tourism

Tourism trends by type and their connection to the elements of the tourism system, illustrated with examples. Experience models (Pine & Gilmore; Walls et al.) and their appearance in tourism trends. Main areas of digitalisation in tourism and their significance. Sustainability in tourism, key historical milestones. Examples of sustainable tourism planning, services and products. Characteristics of environmentally conscious tourist behaviour and the role of education on the supply side.

Related courses: Introduction to Sustainable Tourism

10. Specialisation Topics

a) Health, Eco and Sports Tourism

Recreation and the system of health, sports and ecotourism: trends and Hungarian characteristics.

The concept of recreation and its relationship to tourism. Types, characteristics and demand and supply trends of health tourism. Health tourism resource systems. Hungary’s health tourism resources and supply. The concept, types and trends of sports tourism. Characteristics of sports events; the role of Hungary and Budapest in the sports event market. The concept and trends of ecotourism. Hungary’s ecotourism resources and supply. Impact of consumer trends on health, sports and ecotourism demand and supply. Product development processes in health, sports and ecotourism.

Related courses: Health Tourism, Sports Tourism and Sports Events, Student Project (Health, Sport, Ecotourism), Ecotourism, Recreation, Healthy Nutrition

b) Destination Management and Marketing (earlier Tourism Development and Destinations Management)

Tourism destinations and their operation: management, planning, product development and marketing.

The concept and characteristics of tourism destinations. The necessity, objectives and tasks of destination management organisations (DMOs). Destination planning processes and plan structures. The role of research in destination management; forms of destination research. The concept of destination products and product development processes. Partnership and team building in destinations; involvement of stakeholders and local communities. Destination marketing systems, the PRICE model. Destination marketing communication tools.

Related courses: Destination Management, Destination Planning, Product Development, Destination Marketing, Digital and Social Media Marketing (earlier: Tourism Destination Management A, Tourism Planning and Regional Development, Product Development in Tourism, Student Project (Tourism Planning))

c) Commercial Hospitality

Hospitality operations: supply and pricing, business planning, sustainability, regulation and future perspectives.

Professional, economic and sustainability foundations of hospitality operations. The role of food and beverage supply, pricing, business planning, consumer behaviour and marketing. Opportunities for healthy and sustainable operations. Current hospitality trends and business solutions. Activity-specific performance indicators, good business practices. Legal, regulatory and operational environment of hospitality activities, with emphasis on differences from other sectors. Social phenomena influencing hospitality operations and development paths. The future of hospitality.

Related courses: F&B Management 1-3, Restaurant and Kitchen Practice, Student Project (Hospitality), Knowledge of Food and Drink, Food Safety and Nutrition

d) Travel and Event Management

The system of travel and event organisation: processes, management, digitalisation, trends, MICE tourism.

Main processes of travel and event organisation. Financial aspects of travel and event management. Travel trends. Digitalisation in travel organisation. Criteria for assembling travel packages. Impact of trends on travel packages. Digitalisation effects on booking and CRM systems. Characteristics, organisation and economic significance of MICE tourism. Festival tourism types. Sustainability issues in MICE and festival tourism. Event organisation steps from concept to implementation. Budget planning principles. The role of digitalisation and new technologies in event delivery and marketing.

Related courses: Tour Operation, Sales in Travel Business, Travel Agency Operations, Event

Management, MICE Tourism

e) Event Management in Hospitality

Hospitality events and catering management: planning, supply and pricing, hygiene, performance measurement, business operations and trends. Professional foundations of event organisation and catering. Definition and types of events. Hospitality- and catering-focused events. Planning and organisation aspects of hospitality events. Food offering, pricing and workforce organisation considerations. Hygiene requirements. Measurement of event success based on guest satisfaction, client satisfaction and financial performance. Activity-specific indicators, good business practices. Current trends in event gastronomy, workforce organisation and technical solutions. Future perspectives of the field.

Related courses: Theory of Event Planning, Event Management (Hospitality), Event Planning Project, Event Gastronomy

1. Globalisation, Regionalisation and the Restructuring of Global Economic Power Centres

Globalisation, regionalisation, global economic power centres, the restructuring of the world economy’s power centres from the Second World War to the present day, and the relationship between regionalisation and globalisation.

2. Trade Policy, Protectionism and Their Impact on the EU and Capital Flows

Trade policy and protectionism, with particular regard to the impact of protectionist trends emerging over the past decade on the European Union’s common trade policy, as well as the characteristics of foreign direct investment flows and the effects of protectionist efforts on capital movements.

3. International Capital Flows and the Role and Risks of Multinational Enterprises

International capital flows and the role of multinational enterprises. The role of emerging multinational enterprises in capital flows, illustrated by the example of a freely chosen country. The financial risks faced by multinational enterprises operating in the global economy and alternatives for risk management.

4. Economic Impacts of Migration and Labour Mobility in Europe

The economic impacts of migration and labour mobility in Europe from the perspective of host and sending countries.

5. The Role of Global Value Chains and Supply Chains in Foreign Trade

Global value chains (GVCs) and supply chains, the impact of integration into global value chains on the product structure of the foreign trade of a relatively low-wage country, and the contribution of supply chain participants to the efficient functioning of supply chains.

6. Risks and Decision-Making Criteria in International Transactions and Financing

International transactions and financing, the classification and risk-based evaluation of factors to be considered in the preparation of international transactions, and the assessment of factors influencing financing decisions.

7. Modes of Market Entry and Corporate Decisions

Modes of market entry, the criteria for selecting a mode of market entry, and their illustration through a specific corporate example.

8. Internationalisation Strategies and the Role of the Strategic Tripod

Internationalisation strategies, the relevance of all three elements of the strategic tripod in internationalisation strategies, and the possible internationalisation processes of firms over recent decades.

9. The Nature and Consequences of Financial and Credit Crises

The nature and consequences of financial and credit crises.

10. Macroeconomic Analysis: Statistical Indicators and Data Sources

Macroeconomic analysis and statistical indicators, indicators and data sources applicable to the analysis of the macroeconomic processes of a given country.

1. The main currents of International Relations Theories.

• realism

• neorealism

• liberalism

• neoliberalism

• constructivism

Related module: Theory of International Relations

2. The process of foreign policy decision-making, its actors and components.

• Components of foreign policy decision-making: internal factors, international factors

• State actors in foreign policy decision-making:

- Head of state (president, king): representation, strategic direction

- Government / Prime Minister

- Ministry of Foreign Affairs

- Parliament (control, ratification)

- Defence and security offices, agencies

- Diplomatic missions (embassies)

• Non-state actors in foreign policy decision-making:

- International organizations (UN, EU, NATO)

- Economic actors, multinational companies

- Civil organizations, NGOs

- Media

- Scientific and expert institutions

Related module: Foreign Policy Analysis, Decision Making, Strategies of International Negotiations

3. The basic categories of international security and its most important theories.

• Security regime

• State-centred security

• Security dilemma

• Democratic peace

• Liberal institutionalism

• Multisectoral security

• Securitization

• Theory of security complexes

Related module: International Security Systems

4. The main characteristics of the World Order after 1991.

• Unipolar world order – US dominance (1991–2001/2008)

• Acceleration of globalization

• Regional integrations and strengthening of international organizations (EU, NATO, WTO)

• Rise of Powers challenging US hegemony (rise of China, return of Russia, global multipolarity)

• Conflicts and new types of security threats (ethno-national and religious conflicts, globalization of terrorism, non-traditional threats)

• Technological revolution and information society

• Economic restructuring, crises

• Crisis of the liberal world order

• Changes characteristic of the 2020s

Related module: Geopolitics and Geostrategies

5. The main changes in the tasks, functions and methods of diplomacy in the 21st century.

• Change in diplomatic tasks (traditional tasks: representation, negotiation, communication, but also new tasks (public diplomacy, digital/cyber diplomacy, crisis diplomacy and security, environmental and health diplomacy);

• Modernization of the toolbox (social media, online platforms and video conferences; big data, AI and analytical tools)

• Transformation of functions (Public & cultural diplomacy, preventive and crisis diplomacy, expanding, more complex tasks)

Related module: Studies on General and Specialised Diplomacies

6. Investment promotion, Inward FDI, goals, advantages and disadvantages.

• FDI stock and flow

• Job creation

• Technology advancement

• New trends in FDI promotion

• Friendshoring and nearshoring

• Incentives by the government: tax holidays, R&D incentives

Related module: The Theory and Practice of Economic Diplomacy, Business Diplomacy

7. Export promotion: goals and tools.

• Target country diversification

• Classic export promotion tools

• Export promotion agencies

• Trade fairs

• Business missions, high-level delegations

• Export promotion activities of diplomatic bodies

• Importance of SME exporters

Related module: The Theory and Practice of Economic Diplomacy, Business Diplomacy

8. The most important challenges before European security architecture regarding institutional reforms.

• The security role of NATO, OSCE, and the European Union in addressing challenges on the European continent and globally

• NATO and EU crisis management tasks and capabilities

• Increased defence spending within NATO and the EU

• The impact of changes in transatlantic relations on EU defence policy

• The impact of the Russian-Ukrainian war on defence spending trends

Related module: International Security Systems

9. The main challenges before the European Union in the new Millennium.

• Reforming the decision-making institutions of the European Union: the role of the Council, the Commission and the European Parliament

• Chances for a European Federation: the supranational and intergovernmental features of the European Union

• European Politics: the process of EP elections. Political groups of the European Parliament

Related module: Current Political Issues and Development Trends in Europe

10. The main directions of Hungary’s external economic strategy in the light of the challenges of the 21st century.

• Opening policy – foreign trade diversification

• Investment promotion and industrial development

• The role of energy security and sustainability

• Regional and geopolitical adaptation

• Digital foreign trade

Related module: Development of Hungary's Foreign and Foreign Economic Relations

1. The Concept and Philosophy of Holistic Marketing.  

The evolution of marketing and changes in its definitions. Emerging perspectives on the marketing mix. The main areas of holistic marketing and their interrelations. The concepts of Marketing 5.0 and Marketing 6.0.  

2. Classical and Modern Methods of Marketing Research.  

Comparison of qualitative and quantitative research techniques. Modern approaches in marketing research. The development of research-supporting technologies. Related software platforms and data collection tools.  

3. Key Elements of Consumer and Buyer Behaviour.  

The decision-making process and influencing factors. Changes in consumer behaviour, generational theories, and new approaches. Target audience segmentation, persona creation, and hyper-personalisation. The role of customer experience and the customer journey in understanding and influencing buying behaviour.  

4. The Process and Main Elements of Marketing Planning  

The relationship between marketing planning and business planning. Characteristics of marketing planning in B2C and B2B contexts. Typical mistakes and how to avoid them. Anticipating future market trends and challenges.  

5. The Significance of Integrated Marketing Communication.  

The role of marketing communication within the marketing mix. The main elements of the marketing communication mix. Key characteristics and application principles of each element. The role of strategic planning, creative planning, and media planning frameworks.  

6. Strategic Application of Digital Marketing.  

The importance of digital marketing based on international and domestic data; its place within the communication and media mix. Types and strategic uses of digital tools. The role of data-driven decision-making in digital campaign planning. Performance marketing and brand marketing.  

7. Innovative Offline and Online Tools in Marketing Communication.  

Creative integration of traditional and digital channels. Experience-based and interactive solutions. Best methods, practices, and examples. The connection between innovative tools and the marketing communication mix.  

8. The Relationship Between Brand Strategy and Marketing Strategy.  

The role of branding in long-term business success and building consumer trust. The significance and best practices of positioning. Key elements of brand identity, including brand name, slogan, logo, and visual identity. Key considerations in international branding.  

1. Strategic management in tourism

• Fundamentals: levels and process of strategic management. The organization's Vision, Mission, and Strategic Goals.

• Tools for analysing the external and internal environment (e.g., PESTEL, SWOT analysis).

• Strategic Synthesis: evaluating strategic position using portfolio matrices (BCG, GE- McKinsey) and Industry Analysis (Porter’s 5-Forces).

• Types of strategies: corporate and business-level strategies. Porter’s generic strategies and the 'Blue Ocean' strategy concept.

• Framework for evaluating strategic options: SFA (Suitability, Acceptability, Feasibility).

• Current Trends: strategic innovations in tourism, eg. platform-based business models (Airbnb, Uber), digitalization (role of AI), sustainability (circular economy), and strategic resilience.

Related course: Strategic Management and Planning

2. Tourism systems and global trends

• Socio-economic megatrends in world tourism, historical development and current volume of international tourism.

• Systemic approach to tourism; fundamentals of tourism statistics and measurement methods.

• Changes in demand and consumer behavior; the concept of Experience Economy and value creation in tourism.

• Sustainability in tourism and sustainable best practices, challenges of destinations including overtourism and climate change.

• Niche tourism forms and new innovative products; the role of Digitalization and Artificial Intelligence (AI) in the industry.

• Major tourist regions and their role in world tourism; socio-economic characteristics of European tourism and trends in Hungary.

Related courses: The System of Tourism, Global Trends

3. Sustainable development in tourism

• Principles: definition of sustainability, the Brundtland Report, domains of sustainability (economic, social, environmental), the challenges of sustainability, and the conception of circular economy.

• The impacts of tourism and measurements:

o Economic impacts: TSA (Tourism Satellite Accounts, direct, indirect and induced impacts, multipliers, leakages, other economic impacts).

o Social and cultural impacts: demonstration effect, commodification, social carrying capacity, and overtourism.

o Environmental impacts: environmental carrying capacity, carbon footprint waste management.

• The EU initiatives of sustainability tourism: Green Leaf Award, EDEN Destinations, Smart Tourism, the ETIS indicator system of the tourism destinations.

• Sustainable tourism planning: demand and supply analyses, competitor analysis, segmentation and targeting. Temporal and spatial planning.

• Sustainable tourism products: tourism product planning, the role of customer journey planning, experience and service design.

• Examples of sustainable destinations and good practices.

Related courses: Sustainable development and tourism planning, Destination tourism planning and development

4. Marketing management in tourism

• Fundamentals: the concept of integrated marketing communication (IMC); the role of DMOs and advertising agencies.

• Consumer & strategy: consumer decision-making process; segmentation and selecting target audience; defining communication objectives.

• Branding, product & message: translating the tourism product into a brand message; creative strategy and message development.

• Media & distribution: media planning & buying basics; analysis of online, offline, and traditional media channels as distribution points.

• The promotion mix: key tools of tourism marketing: advertising types (corporate, retail, B2B, destination), sales promotion, PR, and personal selling.

• Future & challenges: current issues and future challenges in destination marketing and management.

Related course: Integrated Marketing

5. Leadership and organizational behavior

• Fundamentals: definitions of leadership; the distinction between management and leadership; core functions and roles.

• Traits & styles: global attributes of effective leaders; task-oriented vs. relationship-oriented styles; the concept of authenticity.

• Key frameworks: Jim Collins’ Level 5 Leadership hierarchy; Kouzes & Posner’s "5 Practices of Exemplary Leadership" model.

• Leader development: the developmental stages of a leader ("The 7 Ages of a Leader") and identifying talent.

• Ethics & responsibility: the dark side of leadership ("7 Deadly Sins", Bad Leadership) vs. ethical leadership principles.

• CSR & global vision: the intersection of leadership and CSR (profit vs. common good); creating a transforming vision; challenges of global leadership.

Related course: Leadership of People

6. Innovation and creative methodologies in tourism

• Theoretical Foundations: characteristics of creative projects; the mindset and stages of the design thinking process (empathize, define, ideate, prototype, test).

• Tools for conceptualization: application of main design tools: persona creation, empathy Map, and customer journey mapping.

• Prototyping & co-creation: the role of Co-creation in developing tourism experiences; types and purpose of prototyping in service design.

• Design communication: principles of visual communication and storytelling in tourism; how to communicate design concepts effectively.

• Best practices: analysis of innovation case studies and best practices in the Hungarian and international hospitality and tourism industries.

Related course: Creative project

7. Hotel and hospitality management

• Leadership & structure: distinction between management and leadership; hotel departments and organizational structures (organigrams).

• Business environment: globalization of the hotel market; "Battle of the brands" (Brand management); hotel owners and developers.

• Operating models: hotel operation models in domestic and international environments: franchise agreements vs. management contracts.

• Planning & marketing: the structure of a feasibility Study (supply and demand trends); international sales & marketing basics; STP (Segmentation, Targeting, Positioning).

• Revenue & finance: the revenue management toolkit and basic KPIs; financial statements (balance sheet, income statement, Cash Flow) and the USALI system.

• Quality & HR: quality management systems and ratings (HotelStars, Michelin); Human Resource Management (HRM) in an international environment.

• Sustainability: sustainable practices in hotel operations (integrating environmental responsibility into management).

Related course: International Hotel and Hospitality Management

8. European tourism and cultural heritage

• Fundamentals: physical geography of Europe (relief, climate zones) and the historical/socio-economic background of the EU as a tourism framework.

• Heritage: the significance and types of cultural and world heritage (UNESCO) sites in European tourism.

• Leading Destinations (The West & South): characteristics of the top tourism countries: France and Spain; tourism in the mediterranean region (Italy, Croatia, Greece).

• The DACH Region: Tourism in German-speaking countries (Germany, Austria, Switzerland) – focus on alpine, urban, and cultural tourism.

• Northern & Eastern Europe: tourism characteristics of Northern Europe (Scandinavia) and the specific development of Central and Eastern Europe.

• Hungary: Hungary’s role, position, and main attractions within the European tourism system.

Related course: Europe as a Tourism Destination